When buying real estate in Oshawa with the thoughts of maybe reselling it in the future, you can consider some important things to make sure that the house that you will be buying has some seriously good resale value. Buying real estate property is not that simple. It?s also expensive and can involve a lot of work. That?s why if you are to buy real estate property in Oshawa with the possibility of selling the property in the future, you have to take into consideration these simple pointers that will be discussed:
Number of Bedrooms and Bathrooms ? In Oshawa, the most common number of bathroom available is 2-3 per house that?s why going below this number will affect the resale value of the house. Three to four bedrooms in a house is also ideal. To stay within that number is good so that you will have more potential buyers in the future if you will come to terms of reselling your house. As a rule of thumb, the best way to determine the ideal number of rooms and bathrooms in a house is to compare it to the neighboring houses in the community where the property is at. Being below the average number of rooms in the area will also translate to lower value of your property.
Size of the House ? Same as with the idea of having the number of average rooms in the area, your house size should also not be too different from the rest of the houses in the neighborhood. ?Always think that the houses closest to your desired property can either pull your home value up or down. If your desired house is smaller compared to the bigger houses nearby, it can pull up the value of your house in the future. However, it won?t help to buy the largest house in a community of small to medium size houses because it can pull your home value down south. When you have the resources, it?s good to buy a house in a prominent neighborhood or community than settle in a lackluster place.
The Lot and its Curb Appeal ? The lot, its landscaping, or the curb appeal is important primarily because this is one of the first things that are noticed in your property. Real estate properties that have good resale value are even, level, and rectangular especially in a typical neighborhood or community. Ample space for front yard and back yard is advisable but what?s not advisable is spending too much money on landscaping because that?s a sum amount of value that you may no longer recover when you resell.
Location and View ? Obviously, you?ll have yourself a good one if you?re going to buy a real estate property that has a beautiful view. Normally, properties with view really do have a higher value compared to the houses nearby but without the view. There are pros and cons with this one because it might take you longer to find a buyer someday who has an appreciation of the view and will be willing to pay higher for that.
This list will be continued in the next blog post: Buying Real Estate in Oshawa if You Plan to resell in the Future Part 2.
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